According to the memorandum of understanding (MoU) inked between both the companies, Yes Bank will offer financing and banking solutions to Kia car dealers with products such as term loans, cash credit and inventory funding.
It will also offer loans to the end-consumers of the automaker, which is set to enter the Indian market by the second half of 2019 with an SUV.
"The bank has been working with various auto players to provide innovative finance solutions, thereby further strengthening our position in the competitive value-driven car segment and also contributing to the growth of the segment in the country," Yes Bank Senior Group President and Head (Retail and Business Banking) Pralay Mondal said in a statement.
"This partnership will empower our stakeholders and customers with financial products specifically tailored for them to facilitate their smooth entry into the world of Kia," he added.
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